“Systems And Methods For Generating On-Demand Insurance Policies” in Patent Application Approval Process (USPTO 20230206342): Patent Application

2023 JUL 14 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- A patent application by the inventors Brannan, Joseph Robert (Bloomington, IL, US); Gross, Ryan Michael (Normal, IL, US); Moore, Eric R. (Heyworth, IL, US); Thoele, Jody Ann (Bloomington, IL, US), filed on February 23, 2023, was made available online on June 29, 2023, according to news reporting originating from Washington, D.C., by NewsRx correspondents.

This patent application has not been assigned to a company or institution.

The following quote was obtained by the news editors from the background information supplied by the inventors: “The landscape of vehicle insurance coverage has been changing with the increased popularity of alternative transportation options, such as, for example, transportation network company services, public transportation, and walking. Utilizing these alternative forms of transportation to commute from place to place is becoming increasingly common. Further, users may switch from one transportation mode to another during a single trip and/or throughout the week based upon cost, available modes of transportation, time of day, day of the week, and location. Additionally, individuals generally use mobile devices (e.g., smartphones, tablets) for a variety of purposes and often carry mobile devices while traveling. Individuals may utilize mobile devices to schedule and request rides in real time with various transportation network company services.

“However, at least some known insurance policies may not adequately provide coverage for these different types of transportation options. Conventional techniques may also be inconvenient, awkward, time consuming, and/or have additional drawbacks as well”

In addition to the background information obtained for this patent application, NewsRx journalists also obtained the inventors’ summary information for this patent application: “The present embodiments may relate to, inter alia, systems and methods for generating dynamic and intelligent insurance offerings in real time. A computer system may be configured to recommend and/or push different modes of transportation and/or travel routes to a user based upon a risk level associated with a particular mode of transportation and/or travel route. The computer system may generate, on a trip-by-trip basis, recommendations for a particular mode of transportation and/or travel route to reduce the user’s risk, and therefore, cost. The computer system may be configured to incorporate on-demand or additional insurance offerings based upon the user’s own personal transportation options, such as, for example, a personal vehicle, scooter, and/or bike.

“In one aspect, an on-demand insurance (ODI) server for generating dynamic user offerings may be provided. The ODI server may include at least one processor and/or associated transceiver in communication with a memory device. The at least one processor and/or associated transceiver may be programmed to (i) receive, from a user computing device associated with a user, an insurance policy request for a trip from a start location to an end location. The request may include trip data and a user identifier associated with the user. The at least one processor and/or associated transceiver may also be programmed to (ii) determine at least one transportation mode available for the trip; (iii) access, from the memory device, contextual data associated with the trip; (iv) assess, based upon at least the accessed contextual data, a risk associated with the at least one transportation mode; (v) calculate, based upon the assessment, a risk score associated with the at least one transportation mode based upon at least the contextual data; (vi) generate, based upon the calculated risk score, an insurance offering associated with the at least one transportation mode; and/or (vii) transmit the insurance offering in real time to the user computing device for purchase by the user. The on-demand insurance (ODI) server may include less, additional, and/or alternative functionality, including that described elsewhere herein.

“In another aspect, a computer-implemented method for generating dynamic user offerings may be provided. The method may be implemented by an on-demand insurance (ODI) server including at least one processor and/or associated transceiver in communication with a memory device. The method may include, via the at least one processor and/or associated transceiver, (i) receiving, from a user computing device associated with a user, an insurance policy request for a trip from a start location to an end location. The request may include trip data and a user identifier associated with the user. The method may also include, via the at least one processor and/or associated transceiver, (ii) determining at least one transportation mode available for the trip; (iii) accessing, from the memory device, contextual data associated with the trip; (iv) assessing, based upon at least the accessed contextual data, a risk associated with the at least one transportation mode; (v) calculating, based upon the assessment, a risk score associated with the at least one transportation mode based upon at least the contextual data; (vi) generating, based upon the calculated risk score, an insurance offering associated with the at least one transportation mode; and/or (vii) transmitting the insurance offering in real time to the user computing device for purchase by the user. The method may include fewer, additional, and/or alternative steps, include those described elsewhere herein.

“In a further aspect, a non-transitory computer-readable storage medium having computer-executable instructions embodied thereon may be provided. When executed by an on-demand insurance (ODI) server having at least one processor in communication with at least one memory device, the computer-executable instructions may cause the at least one processor and/or associated transceiver to (i) receive, from a user computing device associated with a user, an insurance policy request for a trip from a start location to an end location. The request may include trip data and a user identifier associated with the user. The instructions may cause the at least one processor and/or associated transceiver to (ii) determine at least one transportation mode available for the trip; (iii) access, from the memory device, contextual data associated with the trip, (iv) assess, based upon at least the accessed contextual data, a risk associated with the at least one transportation mode; (v) calculate, based upon the assessment, a risk score associated with the at least one transportation mode based upon at least the contextual data; (vi) generate, based upon the calculated risk score, an insurance offering associated with the at least one transportation mode; and/or (vii) transmit the insurance offering in real time to the user computing device for purchase by the user. The computer-executable instructions may provide additional, less, and/or alternative functionality, including that described elsewhere herein.

“In yet another aspect, a computer system for providing a flex insurance policy may be provided. The computer system may include at least one processor and/or associated transceiver in communication with at least one memory device. The at least one processor and/or associated transceiver may be configured to (i) determine that a vehicle associated with a user is listed for rent on a peer-to-peer (P2P) car-sharing platform; and (ii) receive, from a computing device associated with the P2P car-sharing platform, vehicle listing information associated with the user. The vehicle listing information may include a user identifier associated with the user. The at least one processor and/or associated transceiver may also be configured to (iii) retrieve, from the memory device, a user profile associated with the user identifier. The user profile may include information associated with (a) a personal automobile insurance policy associated with the vehicle, and (b) a personal mobility policy associated with the user. The at least one processor and/or associated transceiver may also be configured to (iv) extract, from the user profile, a first identifier associated with the personal automobile insurance policy and a second identifier associated with the personal mobility policy; and/or (v) automatically transmit, to an insurance provider computing device, instructions to (a) suspend and/or otherwise adjust (such as adjust the price, limits, deductibles, and/or coverages of) the personal automobile insurance policy associated with the first identifier, and (b) activate and/or otherwise adjust (such as adjust the price, limits, deductibles, and/or coverages of) the personal mobility policy associated with the second identifier. The computer system may include less, additional, and/or alternative functionality, including that described elsewhere herein.

“In another aspect, a computer-implemented method for providing a flex insurance policy may be provided. The method may be implemented by a computer system including at least one processor and/or associated transceiver in communication with at least one memory device. The method may include, via the at least one processor and/or associated transceiver, (i) determining that a vehicle associated with a user is listed for rent on a peer-to-peer (P2P) car-sharing platform; (ii) receiving, from a computing device associated with the P2P car-sharing platform, vehicle listing information associated with the user, the vehicle listing information including a user identifier associated with the user; (iii) retrieving, from the memory device, a user profile associated with the user identifier, the user profile including information associated with (a) a personal automobile insurance policy associated with the vehicle, and (b) a personal mobility policy associated with the user; (iv) extracting, from the user profile, a first identifier associated with the personal automobile insurance policy and a second identifier associated with the personal mobility policy; and/or (v) automatically transmitting, to an insurance provider computing device, instructions to (a) suspend and/or otherwise adjust (such as adjust the price, limits, deductibles, and/or coverages of) the personal automobile insurance policy associated with the first identifier, and (b) activate and/or otherwise adjust (such as adjust the price, limits, deductibles, and/or coverages of) the personal mobility policy associated with the second identifier. The method may include fewer, additional, and/or alternative steps, include those described elsewhere herein.”

There is additional summary information. Please visit full patent to read further.”

The claims supplied by the inventors are:

“1. An on-demand insurance (ODI) server comprising at least one processor in communication with a memory device, the at least one processor configured to: generate a user profile associated with a user by processing telematics data received from a user computing device associated with the user; determine at least one transportation mode available for a trip to be taken by the user; receive real-time contextual data associated with the trip and the user profile; determine, based upon at least the real-time contextual data and the user profile, at least one risk associated with use of the at least one transportation mode by the user during the trip; generate, based upon the at least one risk, an insurance offering associated with the use of the at least one transportation mode; and transmit the insurance offering in real time to the user computing device for purchase by the user.

“2. The ODI server of claim 1, wherein the at least one processor is further configured to receive, from the user computing device, an insurance policy request for the trip, the insurance policy request including trip data and a user identifier associated with the user.

“3. The ODI server of claim 2, wherein the at least one processor is further configured to determine the at least one transportation mode based upon the insurance policy request.

“4. The ODI server of claim 1, wherein the at least one processor is further configured to calculate, based upon the at least one risk, a risk score associated with the use of the at least one transportation mode.

“5. The ODI server of claim 4, wherein the at least one processor is further configured to generate, based upon the calculated risk score, the insurance offering.

“6. The ODI server of claim 1, wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with a start location of the trip, or data associated with an end location of the trip.

“7. The ODI server of claim 1, wherein the at least one processor is further configured to: determine a plurality of transportation modes available for the trip by accessing transportation data associated with the trip; calculate a plurality of risk scores, each calculated for each of the plurality of transportation modes; compare the calculated risk scores to one another; rank, based upon the comparison, the plurality of transportation modes based upon the calculated risk scores; generate, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and transmit the plurality of insurance offerings to the user computing device for selection by the user.

“8. A computer-implemented method for generating dynamic user offerings, the method implemented by an on-demand insurance (ODI) server including at least one processor in communication with a memory device, the method comprising: generating a user profile associated with a user by processing telematics data received from a user computing device associated with the user; determining at least one transportation mode available for a trip to be taken by the user; receiving real-time contextual data associated with the trip and the user profile; determining, based upon at least the real-time contextual data and the user profile, at least one risk associated with use of the at least one transportation mode by the user during the trip; generating, based upon the at least one risk, an insurance offering associated with the use of the at least one transportation mode; and transmitting the insurance offering in real time to the user computing device for purchase by the user.

“9. The computer-implemented method of claim 8 further comprising receiving, from the user computing device, an insurance policy request for the trip, the insurance policy request including trip data and a user identifier associated with the user.

“10. The computer-implemented method of claim 9 further comprising determining the at least one transportation mode based upon the insurance policy request.

“11. The computer-implemented method of claim 8 further comprising calculating, based upon the at least one risk, a risk score associated with the use of the at least one transportation mode.

“12. The computer-implemented method of claim 11 further comprising generating, based upon the calculated risk score, the insurance offering.

“13. The computer-implemented method of claim 8, wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with a start location of the trip, or data associated with an end location of the trip.

“14. The computer-implemented method of claim 8 further comprising: determining a plurality of transportation modes available for the trip by accessing transportation data associated with the trip; calculating a plurality of risk scores, each calculated for each of the plurality of transportation modes; comparing the calculated risk scores to one another; ranking, based upon the comparison, the plurality of transportation modes based upon the calculated risk scores; generating, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and transmitting the plurality of insurance offerings to the user computing device for selection by the user.

“15. A non-transitory computer-readable storage medium having computer-executable instructions embodied thereon, wherein when executed by an on-demand insurance (ODI) server including at least one processor coupled to a memory device, the computer-executable instructions cause the at least one processor to: generate a user profile associated with a user by processing telematics data received from a user computing device associated with the user; determine at least one transportation mode available for a trip to be taken by the user; receive real-time contextual data associated with the trip and the user profile; determine, based upon at least the real-time contextual data and the user profile, at least one risk associated with use of the at least one transportation mode by the user during the trip; generate, based upon the at least one risk, an insurance offering associated with the use of the at least one transportation mode; and transmit the insurance offering in real time to the user computing device for purchase by the user.

“16. The non-transitory computer-readable storage medium of claim 15, wherein the computer-executable instructions further cause the at least one processor to receive, from the user computing device, an insurance policy request for the trip, the insurance policy request including trip data and a user identifier associated with the user.

“17. The non-transitory computer-readable storage medium of claim 15, wherein the computer-executable instructions further cause the at least one processor to calculate, based upon the at least one risk, a risk score associated with the use of the at least one transportation mode.

“18. The non-transitory computer-readable storage medium of claim 17, wherein the computer-executable instructions further cause the at least one processor to generate, based upon the calculated risk score, the insurance offering.

“19. The non-transitory computer-readable storage medium of claim 15, wherein the real-time contextual data includes at least one of weather data, age of the user, data associated with a start location of the trip, or data associated with an end location of the trip.

“20. The non-transitory computer-readable storage medium of claim 15, wherein the computer-executable instructions further cause the at least one processor to: determine a plurality of transportation modes available for the trip by accessing transportation data associated with the trip; calculate a plurality of risk scores, each calculated for each of the plurality of transportation modes; compare the calculated risk scores to one another; rank, based upon the comparison, the plurality of transportation modes based upon the calculated risk scores; generate, based upon an associated rank, a plurality of insurance offerings, each generated for each of the plurality of transportation modes, wherein each insurance offering includes a price corresponding to the associated rank; and transmit the plurality of insurance offerings to the user computing device for selection by the user.”

URL and more information on this patent application, see: Brannan, Joseph Robert; Gross, Ryan Michael; Moore, Eric R.; Thoele, Jody Ann. Systems And Methods For Generating On-Demand Insurance Policies. U.S. Patent Application Number 20230206342, filed February 23, 2023 and posted June 29, 2023. Patent URL (for desktop use only): https://ppubs.uspto.gov/pubwebapp/external.html?q=(20230206342)&db=US-PGPUB&type=ids

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